Meet the three billionaires who could drag out the GOP presidential primary, bloody up front-runner Mitt Romney and weaken the odds of defeating President Barack Obama: Sheldon Adelson, Foster Friess and Jon Huntsman, Sr.
The three men are contributing millions of dollars to a trio of outside groups flooding the airwaves in early voting states with brutal ads attacking Romney and ads backing the candidates they would prefer to win the Republican nomination.
Continue ReadingAdelson, a Las Vegas casino mogul, has written a $5 million check ? and has considered giving much more ? to a so-called super PAC backing Newt Gingrich?s presidential campaign.
Huntsman, Sr., who made his fortune at the helm of an eponymous chemical and manufacturing company, reportedly has invested millions in a super PAC supporting the presidential bid of his son, former Utah Gov. Jon Huntsman, Jr.
And Friess, a Wyoming mutual fund master, acknowledged to POLITICO that he is a major financial backer of a super PAC supporting Rick Santorum called the Red, White and Blue Fund and is preparing to give more, but declined to say how much he has given or plans to give.
Operatives say that without the super PAC air cover funded by these deep-pocketed political patrons and their associates, their favored candidates would have a tough time keeping their bare-bones campaigns going as long as they have ? let alone beyond the next couple of contests in South Carolina and Florida.
The prospect that these candidates could carry on is a testament to the new world of campaign money ushered in by a pair of federal court rulings in 2010: A single wealthy donor can now prop up a presidential campaign with unlimited cash, even if the candidate is getting little traction with voters.
?I guess if Newt?s got $5 million, it makes sense that Rick [Santorum] should have a little bit,? said Friess, who has known Santorum since the 1990s and shares his conservative views on social and foreign policy issues. He became among the first major donors to the Red, White and Blue Fund because, he said, ?I believe that Rick Santorum is the most electable candidate. And I?m just thrilled to be able to have played a role so far.?
Friess did not shy away from the characterization that the $537,000 spent by the Red, White and Blue Fund in Iowa ? which dwarfed the $22,000 spent by Santorum?s campaign on ads in the state ? helped propel Santorum to a close second to Romney in the state?s caucuses. But Friess laughed off a story on the liberal Daily Kos headlined ?Meet Foster Friess, Billionaire Who Bought Iowa for Santorum.?
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